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SATRIX COLLECTIVE INVESTMENT SCHEME - Distribution Finalisation Announcement - Quarter Ended 31 December 2015 - STX40

Release Date: 19/01/2016 15:05
Code(s): STX40     PDF:  
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Distribution Finalisation Announcement - Quarter Ended 31 December 2015 - STX40

Satrix Managers (RF) (Pty) Ltd
SATRIX 40 PORTFOLIO
JSE code: STX40
ISIN code: ZAE000027108
("Satrix 40")

A portfolio in the Satrix Collective Investment Scheme, registered as such
in terms of the Collective Investment Schemes Control Act, 45 of 2002

DISTRIBUTION FINALISATION ANNOUNCEMENT – QUARTER ENDED 31 DECEMBER 2015

The manager and trustees of the Satrix Collective Investment Scheme (being
Satrix Managers (RF) (Pty) Limited and Standard Chartered Bank),
respectively, have declared a distribution to holders of Satrix 40
securities recorded in the register on Thursday, 31 December 2015 in
respect of the quarter ended 31 December 2015 as follows:

An aggregate amount of      25.89   cents   (R0.2589)   per   Satrix   40   security
constituted as follows:

     Net Local dividend per security (1)                                     12.05958
     Dividend withholding tax on local dividend (15%)                         2.12816
     Net Foreign dividend per security (2)                                    4.24564
     Dividend withholding tax on foreign dividend (15%)                       0.74923
     Foreign dividend (0% SA tax) (3)                                         5.26802
     REIT dividend (4)                                                        1.32745
     Interest (positive cash balances)(a)                                     0.11192
     TOTAL DISTRIBUTION                                                      25.89000


 a   No withholding tax on interest is applicable as interest
     has solely been earned from a South African Bank.

 1   NET LOCAL DIVIDEND
     Gross dividend (cents per security)                                     14.18774
     Dividend withholding tax (15% on taxable dividend)                     - 2.12816
     Net dividend per security                                               12.05958

 2   NET FOREIGN DIVIDEND (Foreign-dual listed shares)
     Gross dividend (cents per security)                                      4.99487
     Dividend withholding tax (15% on taxable dividend)                     - 0.74923
     Net dividend per security                                                4.24564

 3   NET FOREIGN DIVIDEND NOT TAXED (S64N rebate)
     Gross dividend (cents per security)                                     10.62188
     Foreign dividends withholding tax (33.92% on taxable                   - 3.60255
     dividend)
                                                                              7.01933
     Less portfolio costs                                                   - 1.75131
     Distributable dividend                                                   5.26802
     SA Dividend withholding tax
     Gross dividend                                                          10.62188
     Less portfolio costs                                                   - 1.75131
                                                                              8.87057
     SA DWT                                                                   1.33059
 

     SA tax 1.33059 cents (15%) will not be deducted as
     foreign dividend withholding tax has already been
     deducted (SECTION 64N)

 4   REIT DIVIDEND
     Gross REIT dividend                                                      1.32745
     Dividend withholding tax (15% applicable to foreign
     holders)                                                               - 0.19912
     Net REIT dividend                                                        1.12833


     No dividend tax is applicable for SA resident securities holders on the
     REIT income. Dividend tax of 15 % is applicable for non-resident
     shareholders on the REIT income.


The dividend tax deducted will be paid as follows:

1.    To the South African Revenue Service in respect of holders that are
      not exempt from dividends tax;
2.    Holders that are exempt from dividends tax or holders qualifying for
      a reduced rate per Double Tax Agreement (“DTA”) will receive the
      appropriate dividend from their intermediary provided they have
      completed and lodged the relevant exemption or reduced rate
      prescribed application form timeously with their service provider.
      The responsibility to make such submissions is that of the security
      holder and failure to do so may result in dividends tax being
      deducted in full.

The payment will be made by the relevant intermediary, being the Central
Securities Depository Participant (“CSDP”) or Broker nominee company which
is the final regulated intermediary in terms of the Income Tax Act.

Payment will be effected on 26 January 2016 to all holders of Satrix 40
securities recorded in the register on Thursday, 31 December 2015.

19 January 2016

Sponsor:
Vunani Corporate Finance

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